Belgium vs Eritrea
Crypto regulation comparison
Belgium
Eritrea
Legal
Restricted
Cryptocurrency is legal in Belgium and regulated under the EU's MiCA framework. Tax treatment depends on whether gains are considered normal management of private assets (tax-free), speculative (33% misc income), or professional income (progressive rates). The FSMA has banned distribution of crypto derivatives to consumers.
Eritrea has a highly restrictive financial environment. The government tightly controls the economy and financial system. No crypto activities are formally permitted.
Tax Type
Varies
Tax Type
None
Tax Rate
0-33%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
FSMA (Financial Services and Markets Authority)
Regulator
Bank of Eritrea
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
No stablecoin regulation
Key Points
- Tax treatment depends on classification: normal portfolio management (0%), speculation (33%), or professional (up to 50%)
- FSMA banned advertising of crypto derivatives and certain crypto products to consumers in 2022
- VASPs must register with FSMA and comply with AML/KYC requirements
- MiCA regulation fully applicable from December 2024
- Belgium has a relatively active crypto community and blockchain ecosystem
Key Points
- Highly restrictive financial environment
- Government tightly controls the economy
- No specific cryptocurrency legislation
- Very limited internet access
- No formal crypto services or exchanges